Contact Congress to Preserve the Advanced Biofuels Tax Credit
Dear ABO members,
Before the House recessed last night, Representative Scott Peters (D-CA), the House Algae Caucus Chair, introduced HR 3758, legislation to extend the 2nd generation biofuel tax credit for a year. The existing $1.01 per gallon tax credit expires on December 31, 2013. While the bill clearly cannot be considered before the end of the year, tax credits are often extended retroactively.
House and Senate tax committee leaders are working on comprehensive tax reform. Should comprehensive tax reform not move, however, we anticipate interest in a tax extenders package which would extend a number of tax credits. In order to increase the chances that the second generation biofuel tax credit is included in any potential tax extenders bill, we are hoping to have significant Congressional support for the Peters’ bill. The most effective way for your Member of Congress to support this bill is to cosponsor it.
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